Seoul, Dec 30 (IANS): Samsung is reportedly planning to launch three foldable smartphones in the market next year, including Galaxy Z Fold 3, Galaxy Z Flip 3, and an affordable model which could be named Galaxy Z Flip Lite.

To keep the phone's price low, the company has decided to make this affordable mode an LTE-only smartphone, which means it won't have support for the latest 5G communication technology, reports news portal Gizbot.

A new Samsung foldable smartphone with the model number SM-F720F was spotted and is expected to draw power from the Qualcomm Snapdragon 855 chipset, which is the currently available 4G chipset.

Apart from this, there's not much information about the rumoured Samsung Galaxy Z Flip Lite.

Earlier, the company filed a patent for three foldable smartphone designs with cutouts for inner cameras.

The patent includes three different designs -- two with an outward folding screen like the Huawei Mate Xs and one with an inward folding screen like the Galaxy Z Fold 2. All three of them have a cutout on the front display so that the cameras present inside can be used even when the phone is closed.

The company earlier introduced Galaxy Z Fold2 that sports a 6.2-inch cover screen and a 7.6-inch main screen when unfolded.

Galaxy Z Fold2 is Samsung's third foldable smartphone after Galaxy Fold and Galaxy Z Flip.